Hi AnneYes doesnt have to be an LOC especially if you lender charges a higher rate of interest for the flexibility.A simple base rate equity loan will do.CheersYours in Finance

I dont want to appear negative but if you are approaching your Accountant to finance the deal shouldn't you also be approaching him to ask him what structure and entity you should use.Surely you are paying him for his advice and not relying on the commission he received from arranging the finance.CheersYours in Finance

Amy sure drop us an email and I will see what i can do for you.CheersYours in Finance

As far i am aware no it is not available thru the direct channel.CheersYours in Finance

Thanks Michael Yes one of each.Have to say the Broking is keeping me flat out at the moment with the demand for finance.CheersYours in Finance

Standard rate but your Broker will need to get the LMI Waiver for you as it is not automatic.CheersYours in Finance

I agree with Anthony that a Mortgage Broker will be able to give you an overall idea as to the likehood of you obtaining finance but have disagree with the concept of getting a pre-approval now on the basis that your circumstances will shortly change. Unfortunately one of the underlying questions any lender or Broker has to ask under the new…[Read more]

Sorry to hear about your current position.Realistically if you need any form of gearing this maybe difficult as serviceability as with the exception of rent your income will be fairly limited.Whilst some lenders will take into consideration your insurance payment you dont want to overcommit yourself given everything else. Make sure if you do buy…[Read more]

SNM is bang on but assuming you are the sole Trustee can set that up in the Deed and cover it in the Investment objectives that the Fund will predominately invest in residential real estate.CheersYours in Finance

Hi FishAlmost like how long is a piece of string because of the number of variable but realistically a maximum 80% lvr is achievable.(Depending on the State you buy in and the costs of purchase around $950,000)You just need find the set up costs, stamp duty and acquisition and relevant deposit. Course a few more points which are taken into co…[Read more]

Anthony your reply is so true.Sometimes you can ask all the questions and make all the checks and balances and if the client does not intend to tell you everything well there is little you can do (Of course gut instinct or feeling helps decipher whether you want to proceed with the deal).In saying all of this i cannot stress that lenders terms,…[Read more]

Hi SNMIf you are a Director of the Company or Trustee of the Trust then regretfully YES same rules apply.CheersYours in Finance

Both are good reasons to switch lenders.As Michael has indicated 85% waiver of LMI is possible whilst some lenders have an alternative to LMI which can prove cheaper.CheersYours in Finance

Hi MareeSorry wasnt going to mention you in person.Yes all good so far and a great property Maree has purchased.CheersYours in Finance

Hi BreezaI was 9 years older than you before i retired and lived off my property income so to be able to do it by 30 would be a goal worth trying to achieve.Just to correct an earlier comment you made.You will qualify for the FHOG as long as the Title is in your name irrespective of whether your boyfriend is helping you pay down the loan.…[Read more]

Yes i would separate the loans in fact i would have 3 loan splits otherwise you are going to end up cross collateralising the loans and that certainly is a big No no.You could have 2 offset accounts depending on the lender but the question is why would you bother unless you have a decent amount of money sitting in the account and needed to offset…[Read more]

Hi AmyAs long as the rate of interest for a loan offering an offset and the fees associated with the account are competitive and subject to the monies sitting in the account making the savings worthwhile I would certainly have an offset account on 1 of the loans. Do NOT use a LOC as a substitute product.You then look to create a sub account with…[Read more]

Hi AmyAlso got to bear in mind whether Michael, myself or any other Broker makes any form of structure recommendation it will depend on whether CUA will allow it.Most lenders try and encourage you to cross collateralise your loans not for your benefit because it adds to the security position.You need to remember that they are in the business for…[Read more]

Hate to disagree with Michael but with 90K you coukld certainly look at starting a SMSF and buying a property within the fund.Ideally you would love to have $150K in Super to start but if you want to invest in property and the Trust Deed and Investment plan of the Trustee allow the Fund to go that route it certainly is doable.Even at a 70% lvr if…[Read more]

In short – NO.Unless you can prove hardship grounds you wont be able to access your Super until at least 55 years of age.Many variations you can do but you cant withdraw the funds and pay off your own residential loan.CheersYours in Finance